(EPS may not be comparable due to enactment of the Tax Cuts and Jobs Act in December 2017 )

Simpson Manufacturing (NYSE: SSD) reported Q4 EPS of $0.27, versus $0.35 reported last year. Revenue for the quarter came in at $231.7 million versus the consensus estimate of $224.48 million.

The enactment of the Tax Cuts and Jobs Act in December 2017 resulted in a provisional net charge of $2.2 million in the fourth quarter of 2017, or an impact of $0.04 per fully diluted share. The charge encompasses several elements, including a federal tax on accumulated overseas profits, changes to tax credits and valuation allowances, and the revaluation of deferred tax assets and liabilities. As a result, the Company\'s effective tax rate was 45% for the fourth quarter of 2017, compared to 33%. The provisional net charge accounted for approximately 900 basis points of the 45% effective tax rate.

Business Outlook

Subject to changing economic conditions, future events and circumstances:

• The Company currently believes the market price for steel will increase during the first quarter of 2018.
• The Company estimates that its full-year 2018 gross profit margin will be between approximately 45% to 46%.
• The Company estimates that its 2018 full-year effective tax rate will be between approximately 26% to 27%. The ultimate impact of the Tax Cuts and Jobs Act may differ materially from the Company\'s estimates due to changes in the interpretations and assumptions made by the Company as well as additional regulatory guidance that may be issued and actions the Company may take as a result of the Tax Cuts and Jobs Act, such as cash repatriation to the United States. The Company will continue to assess the expected impacts of the new tax law and provide additional disclosures at appropriate times.

For earnings history and earnings-related data on Simpson Manufacturing (SSD) click here.